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Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Oil and gas revenues $ 744,000 $ 1,165,000
Revenue from lease operations 75,000 55,000
Gas gathering, compression, equipment rental 27,000 33,000
Real estate rental income 64,000 60,000
Interest Income 44,000 71,000
Other 10,000 11,000
Total Revenues 964,000 1,395,000
Expenses    
Lease operations 292,000 328,000
Production taxes, gathering and marketing 134,000 194,000
Pipeline and rental operations 3,000 3,000
Real estate operations 38,000 39,000
Depreciation and amortization 101,000 122,000
ARO accretion expense 30,000 47,000
General and administrative 722,000 708,000
Total Expenses 1,320,000 1,441,000
(Loss) Before Income Tax (356,000) (46,000)
Current income tax provision (benefit) (61,000) 4,000
Deferred income tax (benefit) (23,000) (71,000)
Total income tax (benefit) (84,000) (67,000)
Net Income (Loss) $ (272,000) $ 21,000
Earnings (Loss) per Share of Common Stock: Basic and Diluted $ (0.04)
Weighted Average Shares Outstanding: Basic and Diluted 6,809,602 6,809,602